The CEO and Chairman of NagaCorp, Tan Sri Dr Chen Lip Keong, has increased his stake in the company with the on-market purchase of six million shares.
NagaCorp issued a statement late last week revealing that Dr Chen had purchased two million shares on 12 September at a price of HK$7.08 per share for a consideration of HK$14.2 million, followed by another four million shares at HK$7.41 for a consideration of HK$29.6 million. In total he paid HK$43.8 million.
The purchase lifts Dr Chen’s stake in NagaCop to 65.98% comprising 2.86 billion shares.
NagaCorp saw its gross gaming revenue climb 85% and net profit 20% in the first six months of 2018 following the opening of Naga2 at its Cambodian integrated resort NagaWorld late last year. The company is also constructing a casino-resort in the Russian special economic zone of Vladivostok.
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